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NZDUSD Focus Now on 7900 after Breakout

NZDUSD Focus Now on 7900 after Breakout

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_nzd-usd_body_nzdusd.png, NZDUSD Focus Now on 7900 after Breakout

Prepared by Jamie Saettele, CMT

The NZDUSD has broken to its highest level since May11th. Focus has shifted to the 7900 figure (several pivots in May and 100% extension of the 7454-7752 rally from 7617) although reward/risk at the close isn’t favorable for bulls. 7780/90 is now short term support.

LEVELS: 7720 7750 7790 7850 7900 7975

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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